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Oct 12, 2012
10/12
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. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the dow rose 2.5 points, the nasdaq fell five. the s&p down four. for the week, the major averages were all off more than 2%. the nasdaq was hit the worst, down almost 3%. >> susie: a new housing boom? >> susie: a new housing boom? a lot of talk and headlines about a recovery in housing. even consumers are feeling more confident as they see signs of a pick up in housing. next week we'll get more direction on where the nation's housing market is headed with the latest monthly numbers on new home construction and sales of existing homes. diane eastabrook reports. >> reporter: it looks like the housin
. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the...
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Oct 15, 2012
10/12
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but as diane eastabrook reports analysts think those unseasonably high prices will drop by the holidays. >> reporter: it's nearly a month into fall, but $4-plus gasoline in many markets sure makes it feel like the summer driving season.
but as diane eastabrook reports analysts think those unseasonably high prices will drop by the holidays. >> reporter: it's nearly a month into fall, but $4-plus gasoline in many markets sure makes it feel like the summer driving season.
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Oct 19, 2012
10/12
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as we wrap up our series "freelance nation," diane eastabrook introduces us to a freelancer who left full-time employment by choice and may never go back. >> reporter: it's break time for shari schmidt. but the 48-year-old marketing consultant's office isn't in a chicago office tower-- it's the kitchen in her suburban home. schmidt is a freelancer. >> most people go in, they have lunch, they go home. i don't do that it's a little bit more flexible and that is
as we wrap up our series "freelance nation," diane eastabrook introduces us to a freelancer who left full-time employment by choice and may never go back. >> reporter: it's break time for shari schmidt. but the 48-year-old marketing consultant's office isn't in a chicago office tower-- it's the kitchen in her suburban home. schmidt is a freelancer. >> most people go in, they have lunch, they go home. i don't do that it's a little bit more flexible and that is
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Oct 9, 2012
10/12
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. >> reporter: i'm diane eastabrook in maple park, illinois. still ahead, i'll tell you how extreme weather this year is wreaking havoc on agri-tourism. >> susie: more trouble on the horizon for the global economy. the international monetary fund says risks for a serious global slowdown are "alarmingly high." the international lender of last resort today cut its growth outlook for the world's economy. it now sees the global economy expanding by 3.3% this year and 3.6% next year. that's down slightly from its july forecast. the u.s. federal reserve is also cautious about the economy. it sees risks to growth over the short term, but minutes from its latest policy meeting show fed officials are still optimistic about the long haul. and on wall street today, worries about the coming flood of corporate earnings-- the dow lost 110 points, the nasdaq dropped 47, the s&p was off 14.5%. that sell-off comes on the five- year anniversary of all-time highs for the dow and s&p 500. after a crazy ride in which both averages lost half their value, today, they
. >> reporter: i'm diane eastabrook in maple park, illinois. still ahead, i'll tell you how extreme weather this year is wreaking havoc on agri-tourism. >> susie: more trouble on the horizon for the global economy. the international monetary fund says risks for a serious global slowdown are "alarmingly high." the international lender of last resort today cut its growth outlook for the world's economy. it now sees the global economy expanding by 3.3% this year and 3.6% next...
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Oct 8, 2012
10/12
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. >> reporter: i'm diane eastabrook in aurora illinois. still ahead, the help wanted sign is out at dyson. >> susie: on wall street today, the u.s. bond market was closed for the columbus day holiday, but stocks were trading. the major averages were in the red as investors brace for the worst earnings season in three years. the flood of third quarter results kicks off tomorrow with dow component alcoa reporting its sultaftethe be. ahead of that, the dow fell 26 points, the nasdaq lost 23, the s&p down five points. joining us now to talk more about quarterly earnings, and the outlook for the markets: scott wren, senior equity strategist at wells fargo advisors. hi, scott, i want to start off by getting your take on quarterly earnings. looking here on this graph about what the forecast had been calling for is a drop of 2.4% in third quarter earnings year-over-year. it will be the first decline in 11 quarters. and over the last couple of weeks we have he been getting a steady stream of earnings warnings. so scott, will the numbers really be t
. >> reporter: i'm diane eastabrook in aurora illinois. still ahead, the help wanted sign is out at dyson. >> susie: on wall street today, the u.s. bond market was closed for the columbus day holiday, but stocks were trading. the major averages were in the red as investors brace for the worst earnings season in three years. the flood of third quarter results kicks off tomorrow with dow component alcoa reporting its sultaftethe be. ahead of that, the dow fell 26 points, the nasdaq...
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Oct 16, 2012
10/12
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. >> this is diane eastabrook in chicago. the temperatures are falling so why aren't gas prices falling too. i'll have details coming up. >> susie: japanese telecom giant softbank is taking control of sprint nextel. it's paying $20 billion for a 70% stake in the third largest u.s. cellular carrier. if the deal is approved, it will give softbank a big presence in the fast-growing u.s. telecom market. sylvia hall reports. >> reporter: right now, sprint is the third-largest u.s. wireless company. and with cash on hand from the softbank deal, it could completely change the market. sprint currently owns half of a company called clearwire, a major holder of the industry's hottest commodity-- wireless spectrum. >> it will allow sprint later on to potentially buy all of clearwire, and create a spectrum powerhouse in the u.s. that will allow it to provide unlimited data services for a much longer time than any other carrier in the u.s. >> reporter: spectrum is pretty simple. it's the radio waves use to transmit things like radio and t
. >> this is diane eastabrook in chicago. the temperatures are falling so why aren't gas prices falling too. i'll have details coming up. >> susie: japanese telecom giant softbank is taking control of sprint nextel. it's paying $20 billion for a 70% stake in the third largest u.s. cellular carrier. if the deal is approved, it will give softbank a big presence in the fast-growing u.s. telecom market. sylvia hall reports. >> reporter: right now, sprint is the third-largest u.s....
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Oct 19, 2012
10/12
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as we wrap up our series "freelance nation," diane eastabrook introduces us to a freelancer who left full-time employment by choice and may never go back. >> reporter: it's break time for shari schmidt. but the 48-year-old marketing consultant's office isn't in a chicago office tower-- it's the kitchen in her suburban home. schmidt is a freelancer. >> most people go in, they have lunch, they go home. i don't do that it's a little bit more flexible and that is one of the great advantages. >> reporter: schmidt gave up a full-time marketing gig 14 years ago when she married her husband tom. she wanted to concentrate on starting a family and had twins abigail and allison five years later. through an agency, schmidt has gotten work consistently ever since. she's been on her current project for four years, making up to $85,000 annually. >> by freelancing i was able to keep my resume active, so some really interesting projects and keep my name out there and stay home. i could pick and choose some projects, i could work as many hours or as few hours as i wanted to and i was able to balance t
as we wrap up our series "freelance nation," diane eastabrook introduces us to a freelancer who left full-time employment by choice and may never go back. >> reporter: it's break time for shari schmidt. but the 48-year-old marketing consultant's office isn't in a chicago office tower-- it's the kitchen in her suburban home. schmidt is a freelancer. >> most people go in, they have lunch, they go home. i don't do that it's a little bit more flexible and that is one of the...
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Oct 13, 2012
10/12
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. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the dow rose 2.5 points, the nasdaq fell five. the s&p down four. for the week, the major averages were all off more than 2%. the nasdaq was hit the worst, down almost 3%. giov >> i think it's very hard to predict real estate prices now because the world is in such an unusual situation. there are so many ifs. and because we just recovered from the biggest housing bubble in u.s. history. so we're really in uncharted territory right now. >> reporter: shiller says one problem for the housing market is there is really no sense of urgency for potential home buyers to pull the trigger on a purchase. inte
. >> i'm diane eastabrook in chicago. still ahead, is the housing market ready to rally? i'll tell you what one expert thinks. >> susie: american consumers are feeling pretty good about the economy. the university of michigan's latest reading on consumer sentiment hit a five-year high. that comes as the treasury reports the u.s. budget deficit topped $1 trillion in fiscal 2012. that's our fourth-largest budget deficit since world war two. that held wall street's gains in check: the...
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Oct 2, 2012
10/12
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diane eastabrook, nbr, st. charles, illinois. >> tom: index fund giant vanguard is changing the measuring sticks for 22 of its funds, impacting more than a half-trillion dollars of investor money. the mutual fund firm says the changes will lead to shareholder savings. in january, 16 u.s. stock and balanced funds, including vanguard's largest index fund, the total stock market fund, will follow benchmarks developed by the university of chicago. six vanguard international stock funds will stop following benchmarks from msci and switch to indices operated by the ftse group based in london. >> susie: just in time for the holiday selling season, samsung can sell its galaxy tablet again in the u.s. a california federal court lifted the sales ban late yesterday. in june, a judge temporarily stopped galaxy sales as samsung and apple fought a patent case in court. in august a jury ruled the south korean company's tablet computer did not infringe on apple's patents. the galaxy 10.1 is an older model, but analysts say it
diane eastabrook, nbr, st. charles, illinois. >> tom: index fund giant vanguard is changing the measuring sticks for 22 of its funds, impacting more than a half-trillion dollars of investor money. the mutual fund firm says the changes will lead to shareholder savings. in january, 16 u.s. stock and balanced funds, including vanguard's largest index fund, the total stock market fund, will follow benchmarks developed by the university of chicago. six vanguard international stock funds will...
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Oct 23, 2012
10/12
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diane eastabrook, nbr, chicago. >> tom: tomorrow on nbr, the latest on housing with new home sales as we continue our week- long housing coverage. and a look at the video game industry ahead of the holidays as the company behind farmville, zynga, looks for a new hit. >> susie: just their first names were enough to sell products: tiger and lance. the two were among the best known athletes nike used to sell its gear. but as scandals brought disgraces to both of them, nike is moving away from the celebrity endorsers it created. here's sports analyst rick horrow. >> tiger woods and lance armstrong helped nike sell billions of dollars of clothes and sporting equipment, leading to profits for shareholders. but the egregious scandals surrounding them, and the changing nature of star athlete endorsements, mean nike's new multi-billion dollar advertising campaigns are moving away from celebrity and to average joe. the shift to using non- celebrities sometimes is made out of necessity, such as during the olympics when nike wasn't an official sponsor. unable to feature olympians during an impose
diane eastabrook, nbr, chicago. >> tom: tomorrow on nbr, the latest on housing with new home sales as we continue our week- long housing coverage. and a look at the video game industry ahead of the holidays as the company behind farmville, zynga, looks for a new hit. >> susie: just their first names were enough to sell products: tiger and lance. the two were among the best known athletes nike used to sell its gear. but as scandals brought disgraces to both of them, nike is moving...
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Oct 24, 2012
10/12
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diane eastabrook takes a look aa how that pick-up in housing is spreading to her parts of the economy as wellpa >> reporter: it looks like home sales are finally out of the dog house. with mortgage rates at historic lowshousing starts haveus reached their highest levels in four years. wells fargo housing economist richard dekaser says housing currently comprises only about 2.5% of u.s. gross domestic product, but as it improves, he thinks it will have a dramatic influence on the economy. >> people go out and they buy new homes, and ey purchase various kinds of merchandise furniture and appliancesnfor instance.nc that has a ripple effect which makes its way into the broader economy, and ultimately this has a powerfueffect on overall macro-economic growth. >> reporter: that's already beginning to happen for home improvement chains like home depot and lowes. the stocks of both companies have been tracking improvementr in the housing market for several months. >> what we are seeing is that, with the improvement in the unemployment rates, they are benefiting from increased trfic and an inc
diane eastabrook takes a look aa how that pick-up in housing is spreading to her parts of the economy as wellpa >> reporter: it looks like home sales are finally out of the dog house. with mortgage rates at historic lowshousing starts haveus reached their highest levels in four years. wells fargo housing economist richard dekaser says housing currently comprises only about 2.5% of u.s. gross domestic product, but as it improves, he thinks it will have a dramatic influence on the economy....
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Oct 24, 2012
10/12
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diane eastabrook has details. >> reporter: there was both good and bad news today for u.s. manufactures. the good news: financial information firm markit said its flash purchasing managers index showed modest improvement in tober, increasing to 51.3 from 51.1 in september. a reading above 50 is considered positive. now, comes the bad news. markit said its most recent survey of roughly 600 u.s. factories found growth in new orders slowed to a modest pace this month. while hiring increased slightly it did so at the slowest pace in two years. and finally, factories said commodity costs increased sharply in this month. markit's chief economist chris williamson said, "while the consumer side of the u.s. economy appears to be nding a ne lease on life, the manufacturing sector is currently acting as a drag in terms of both economic growth and the labor market." purchasing managers told markit they think much of the weakness stems from uncertainty in europe and asia and concern about the fiscal cliff at home. diane eastabrook, "n.b.r.," chicago. >> susie: zynga, showed investors to
diane eastabrook has details. >> reporter: there was both good and bad news today for u.s. manufactures. the good news: financial information firm markit said its flash purchasing managers index showed modest improvement in tober, increasing to 51.3 from 51.1 in september. a reading above 50 is considered positive. now, comes the bad news. markit said its most recent survey of roughly 600 u.s. factories found growth in new orders slowed to a modest pace this month. while hiring increased...
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Oct 19, 2012
10/12
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diane eastabrook has details. >> reporter: a couple of years ago, acme industries was in a dilemma. orders for precision parts used in oil and gas drilling equipment were flooding into the suburban chicago manufacturer, but c.e.o. warren young was having trouble hiring new employees for the extra work. >> they didn't have the kind of skills that we needed, and our mode was not to hire somebody who didn't know hardly anything. >> reporter: acme's problem led to a unique partnership with nearby harper college. c.e.o. young helpethe college develop its new advanced manufacturing program, which trains students for high-demand jobs in automation, machining, metal fabrication, and supply chain management. 23-year-old marc bonfiglio is among the first students. he was a struggling musician who's found a new passion, welding. >> it's fire, it's electricity, and you get to see, at the end of the day, a process or a project that you're working on being completed or further along. >> reporter: harper's advanced manufacturing program takes anywhere from a year to two years to complete. students
diane eastabrook has details. >> reporter: a couple of years ago, acme industries was in a dilemma. orders for precision parts used in oil and gas drilling equipment were flooding into the suburban chicago manufacturer, but c.e.o. warren young was having trouble hiring new employees for the extra work. >> they didn't have the kind of skills that we needed, and our mode was not to hire somebody who didn't know hardly anything. >> reporter: acme's problem led to a unique...
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Oct 12, 2012
10/12
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as diane eastabrook reports, new technology is making it easier to play santa. >> reporter: there are just 74 shopping days left until christmas. >> it needs to go back a little. >> reporter: retailers like macy's are decking the halls, hoping to lure in shoppers. but this year, it may take more than fancy window dressing. growth in online sales is expected to far outpace overall industry growth this holiday season. experts say part of the reason is internet retailers are getting a lot better at what the they do. >> the sites are easy to navigate, they got the right selection of products, the pricing is sharp, they process the order, they get you the goods. >> reporter: technology is the other reason. the proliferation of tablet computers and smart phones make it easier for consumers to shop online and price-compare anytime, anywhere. with smart phones comprising roughly half of all mobile phones, experts expect to see more "showrooming" this year. that's when shoppers visit a store, scan an item for a price, then purchase it online for less. >> you've got about a third of the online
as diane eastabrook reports, new technology is making it easier to play santa. >> reporter: there are just 74 shopping days left until christmas. >> it needs to go back a little. >> reporter: retailers like macy's are decking the halls, hoping to lure in shoppers. but this year, it may take more than fancy window dressing. growth in online sales is expected to far outpace overall industry growth this holiday season. experts say part of the reason is internet retailers are...
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Oct 27, 2012
10/12
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. >> reporter: i'm diane eastabrook in chicago where hundreds of consumers have turned out for $15,000 housing grants. i'll have details coming up. >> susie: businesses and homeowners are bracing for hurricane sandy, as the storm heads for the northeast. it's being called "franken- storm," and with heavy rains expected, it's on track to be one of the costliest storms in history. sandy has soaked florida's east coast, and is expected in the new jersey, new york area by monday. in the path of the storm: several of the nation's biggest cities, travel hubs and several major gasoline refineries along the new jersey and delaware coasts. financial centers like the nasdaq and new york stock exchange, say they'll have , contingency plans in place. electronic trading is expected to continue as normal. michael barry says insurance companies are already mobilizing to deal with damage from hurricane sandy. he's vice president, with the insurance information institute. >> what are insurance companies doing to be prepared? >> well, right now they're trying to figure out exactly where this storm is go
. >> reporter: i'm diane eastabrook in chicago where hundreds of consumers have turned out for $15,000 housing grants. i'll have details coming up. >> susie: businesses and homeowners are bracing for hurricane sandy, as the storm heads for the northeast. it's being called "franken- storm," and with heavy rains expected, it's on track to be one of the costliest storms in history. sandy has soaked florida's east coast, and is expected in the new jersey, new york area by...